Minnesota’s medical-technology (medtech) industry is broadening, bringing with it new real estate opportunities and challenges.
Panelists discussed the industry during a virtual event the Minnesota Commercial Real Estate Women, a local business network, held Wednesday. They identified an expanding need for coworking and shared lab spaces as companies continue with hybrid work models, as well as a need for new types of amenities medtech companies demand all of which could change the business models of commercial real estate companies.
Minnesota’s two fastest growing industries are bioscience and manufacturing. “And medtech fits right squarely into those two categories,” said Terri Ulrick, a principal and director with St. Paul architect firm BWBR.
Wendy Ethan (from left), Kate Hamerly, Anne Olson. (Bridgetower Media News Service)
Leveraging one’s network and identifying the right type of investment should be among the top considerations when beginning to invest in commercial real estate.
That’s according to panelists during Minnesota Commercial Real Estate Women’s virtual forum Wednesday. They were speaking to a group aimed at advancing women globally in the commercial real estate space.
Men hold approximately 73% of undergraduate and graduate real estate degrees in the U.S. and Canada, according to CREW Network. Once in the industry, women in commercial real estate hold 54% of mid-level associate and senior positions; 27% of senior vice president, managing director and partner level positions; and 9% of C-suite positions, according to CREW’s data.